It looks like Binance Launchpool has introduced a new project that is not Telegram-based, marking a shift from recent trends.
This new project, Scroll, is a layer 2 solution created to address Ethereumâs issues with network congestion and high transaction fees. Scroll is also one of the most EVM-compatible zkEVM networks in the market.
Currently, Scroll boasts nearly $800 million in DeFi TVL (Total Value Locked) and features a thriving ecosystem of decentralized applications (dApps). The stablecoin market cap on Scroll surpasses $100 million, which is higher than other zk networks. The Scroll network is also anticipated to introduce real-world use cases like Identity Proof, voting systems, memberships, and loyalty programs, potentially attracting millions of users to its network.
Compared to Ethereum, the Scroll network offers 10 times lower fees while maintaining Ethereum-level security. The native token of the Scroll network, SCR, will play a central role in utility and governance within the ecosystem.
What are the tokenomics of SCR?
Total supply: 1 billion SCR
29.5% for the ecosystem
5.5% for Binance Launchpool
10% for the DAO Treasury
7% for the first airdrop
8% for future airdrops
10% for the Scroll foundation
22.95% for contributors
17.05% for investors
At the time of its Binance listing, the circulating supply will be 19%, suggesting that the token may maintain a favorable market price.
Binance Launchpool Details:
From October 9, 2024, 6:30 AM to October 10, 2024, 6:30 AM (UTC +6:30), users can stake BNB and FDUSD to farm SCR tokens. A total of 46,750,000 SCR will be available in the BNB pool and 8,250,000 SCR in the FDUSD pool.
BNB Staking: Maximum farmable SCR per hour: 97,395 SCR
FDUSD Staking: Maximum farmable SCR per hour: 17,187 SCR
Moreover, Scroll will be the first project to launch in Binanceâs Pre-market, where users can start trading SCR tokens on October 11, 2024, at 4:30 PM (UTC +6:30).
What is Pre-Market Trading?
Pre-Market Trading offers early access to tokens that will be listed on Launchpool. This is a unique feature that sets Binance apart from other centralized exchanges (CEXs), which may also have pre-market trading but don't offer such early access for Launchpool tokens.
Typically, when a project is announced to be listed on Binance Launchpool, users could only observe it without being able to interact with it. If the project had its own airdrops, those who participated might have received tokens in advance, but on Binance, there was no way to buy or sell these tokens before the official listing.
Now, with pre-market trading, not only can users view upcoming tokens, but they can also buy and interact with them. This means users will be able to purchase tokens that are set to be listed on Launchpool in the pre-market, and those who farm tokens from Launchpool can also sell them at pre-market prices.
However, there are a few important considerations to keep in mind with pre-market trading:
Tokens bought during the pre-market are locked until the official spot listing on Binance, meaning users cannot trade them with others or withdraw them from Binance until they are officially listed on the spot market.
Pre-market tokens are subject to price fluctuations. For example, if you buy a token like HMZTR for $0.10 in the pre-market, but when itâs listed on the spot market, its price drops to $0.08, you would incur a loss. Conversely, if the spot price exceeds your purchase price, you could make a profit.
Although Binance selects high-quality projects for listing, it is still essential to thoroughly research and assess the projects on your own before engaging in pre-market trading.
Additionally, you can also trade Launchpool reward tokens in the pre-market. If you believe the token's price might drop after the official listing, you can take advantage of the pre-market to sell at a higher price beforehand.
